Brent crude futures are up 7.5% to around $102 per barrel, while S&P 500 futures traded down about 1% after President Trump ordered the U.S. military to impose a blockade on the Strait of Hormuz, beginning Monday morning.

A Wall Street Journal report indicates that President Trump is weighing limited strikes on high-value Iranian assets to break the stalemate in peace talks. 

The report continued:

That is among the options that Trump was considering Sunday, hours after negotiations collapsed in Pakistan, the officials said.

Trump could also resume a full-fledged bombing campaign, though officials said that was less likely given the prospect of further destabilizing the region and the president’s aversion to prolonged military conflicts.

He could also seek a more temporary blockade while he pressures allies to take responsibility for a prolonged military escort mission through the strait in the future.

U.S.-Iran ceasefire talks in Pakistan ended late Saturday without an agreement. These periods generally allow both sides to restock weapons and prepare for the next phase of fighting.

OSINT (Open Source Intelligence) accounts on X are reporting a steady stream of U.S. Air Force cargo jets heading to the Middle East late Sunday.

“My advice to the White House folks I’ve spoken to is secure the strait at any cost and immediately as a matter of economic and national and global security,” said Steve Moore, a former economic adviser to Trump, who was quoted by the WSJ.

Moore noted, “We have the power to protect the flow of international trade and must use it. Or the whole world economy could tumble into a global recession.”

Fred Fleitz, a senior National Security Council official during Trump’s first term, told the outlet that Iran’s large delegation to Islamabad showed that a diplomatic solution is possible.

“I think Trump’s right, Iran is out of cards,” Fleitz said. “This conflict has only been going on for a few weeks. It’s too early to know how this will come out, but I think it looks promising.”

READ MORE: Trump Orders US Navy To Impose Hormuz Blockade After Talks Collapse

Source Zero Hedge